CBN Supply Crashes Dollar

…naira to appreciate further ahead of Friday Interventions … as CBN Intervention in Forex Market Pays Off The Naira firmed up at the Bureau de Change (BDCs) segment on Thursday,…

Banks’ Dollar Demand Slumps…Over Fear of Dollar Crash

By: Olajide Toriola There are strong indications that the demand for foreign exchange by authorized dealers has slumped, as the dealers were only able to pick $45 million out of…

Naira Listed among 4 Worst Global Currency in 2016

The naira is one of the world’s four worst performing currencies in 2016, according to a report by Bloomberg LP. The naira was said to have lost 36.68 per cent…

Naira recovery likely as Travelex begins weekly dollars sales to BDCs

The naira is expected to make a surprise recovery from today as Travelex, a global foreign exchange (forex) dealer, begins the sale of $15,000 weekly to each of the 3,000…

CBN Jerks Up Dollar Sale Limit to BDCs to $50,000

The Central Bank of Nigeria (CBN) has increased the amount that banks can sell to Bureaus De Change (BDCs) from $30,000 to $50,000. Managing Director of United Bank for Africa…

Is Naira on Recovery Path as Banks Begin Sale of Forex to BDCs?

By Akin Akinremi The resumption of sale of foreign exchange to Bureau De Change operators in the country may soon see dollar appreciate in all the segments of the foreign…

Naira Plunges to N400 a Dollar at Parallel Market

The naira plunged to 400 against the dollar at the parallel market on Thursday as shortage of foreign exchange continued to have negative effects on economic activities in the country,…

Confusion as Naira Falls to N373 a Dollar

There was confusion on Wednesday as the Naira dropped to a new low in both the official and parallel markets, exchanging at N292.90 and N373 to the dollar respectively at…

Naira Loses against Dollar

The naira on Friday continued to lose steam against the dollar at the parallel market, in spite of the new forex regime, the News Agency of Nigeria (NAN) reports. The…

Nigeria, China Agree on Yuan Transactions

President Muhammadu Buhari and Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele, moved closer to actualizing their promise to strengthen the naira against the United States dollars by signing…